A high-powered committee looking into refund work for PACL Investors during the Corona era has warned investors to share documents related to their investments in the company's plans. The committee has taken this step after a video on YouTube, about a mobile app that invites investors to upload their claim applications.
PACL group had raised money from the public in the name of agriculture and real estate businesses. Market regulator SEBI found that the company had raised more than Rs 60,000 crore through the illegal Collective Investment Scheme (CIS) over a period of 18 years. A committee has been formed under the chairmanship of Retired Judge Justice RM Lodha, which looks after the management of refunds of PACL investors.
In a press release issued by the Securities and Exchange Board of India (Sebi), the Lodha committee said that it had received information that a video was uploaded on YouTube on June 5, stating that a mobile app or The portal is inviting investors to upload their claim applications through the app. The committee said that the mobile app Janlok PACL Data is available on the Google Play Store and it is claiming to be developed by Janlok Prathistan Sansthan.
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